News Broadcasting
TV Today Network reports a 7% revenue growth YoY to Rs 218.15 crore in Q1 FY23
Mumbai: TV Today Network has released its financial results for Q1. The results reveal that the network has reported a 7 per cent year-on-year growth in revenue from operations to Rs 218.15 crore in Q1 FY23 as against Rs 203.88 crore in the corresponding quarter of the previous fiscal. The media company saw a YoY decline of 6.13 percent in net profit to Rs 35.05 crore.
“The company had reported a net profit of Rs 37.34 crore in the April-June period a year ago,” stated TV Today Network’s regulatory filing. TV Today Network’s total expenses were at Rs 181.88 crore, up 12.14 per cent in the June quarter of FY23 from Rs 162.19 crore last year.
TV Today’s revenue from the ‘Television and other media operations’ segment in the April-June quarter stood at Rs 214.56 crore and Rs 3.59 crore from radio broadcasting.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
